Credit card rewards are big business. Forty-seven percent of adults say theyâve used a credit card simply for its rewards. Many credit card rewards are sold based on the promise of free travel. In contrast, we save and invest our credit card rewards. LONDON – MARCH 01: A sample of the American Express RED, the… More
Topline The stock market surged higher on Friday, with stocks on pace to snap a three-week losing streak as investors shook off Federal Reserve Chair Jerome Powellâs recent comments about more interest rate hikes from the central bank for the foreseeable future. Stocks have moved higher this week despite rising expectations for another big rate… More
Topline The stock market moved higher on Thursday even as recession fears continued and investors assessed comments from Federal Reserve Chair Jerome Powell, who pledged that the central bank is âstrongly committedâ to bringing down inflation with rate hikes for the foreseeable future. Fed officials are warning that they wonât pause or reverse rate hikes… More
Topline Shares of struggling retailer Bed Bath & Beyond traded sharply lower on Tuesday following the death of chief financial officer Gustavo Arnal over the weekend, which was later ruled as a suicide by the New York City Medical Examinerâs Office. The company has appointed its chief accounting officer as interim CFO. Moment Editorial/Getty Images… More
Topline The stock market tanked on Friday despite the August jobs report coming in slightly lower than expected and dropping significantly from last month, which did little to ease investor concerns about more aggressive interest rate hikes from the Federal Reserve plunging the economy into a recession. Stocks added to losses this week despite a… More
Topline Stocks rebounded slightly on Thursdayâreversing some of the steep declines in Augustâas investors continue to worry about a period of prolonged rate hikes from the Federal Reserve, while market experts warn of further volatility ahead and rising recession risks. A strong weekly jobs report wasnât enough to avoid another selloff to start the month.… More
Topline Stocks fell for a third day in a row on Tuesday as the recent summer market rally continues to fizzle out, with investors growing nervous about more big interest rate hikes from the Federal Reserve, which signaled last week that it would continue to tighten monetary policy for âsome timeâ in an effort to… More
Topline Shares of meme-stock favorite Bed Bath & Beyond, which have swung wildly in recent weeks, initially jumped before moving lower on Tuesday, a day before the struggling retailer will provide investors with a âstrategic updateâ on plans to revive slowing sales and secure new financing. The company will share more details Wednesday on plans… More
Topline Following hawkish commentary last Friday from Federal Reserve chair Jerome Powellâwho said that it would take âsome timeâ to bring down inflation with ongoing interest rate hikesâexperts warn that there is still a long way to go before a reversal in monetary policy, meaning more volatility for the stock market in coming months. Investors… More
Topline The stock market moved lower once again on Mondayâfollowing a sharp selloff on Friday in which the Dow plunged 1,000 pointsâas investors continue to worry about ongoing interest rate hikes and tighter monetary policy from the Federal Reserve potentially throwing the economy into a recession. Investor sentiment took a major hit last week after… More
The George Washington detail on the one-dollar banknote superimposed on computerized people … [+] silhouettes, US, 1982. (Photo by Alfred Gescheidt/Getty Images) Getty Images While soaring inflation has taken a bite out of your paycheckâs spending power, something else happened. The value of the dollar has surged, and by no small measure. And could go… More
Topline Shares of Peloton, a pandemic-era stock darling, tanked nearly 20% on Thursday after reporting a sixth consecutive quarter of losses, as the at-home fitness company continues to struggle with declining sales and excess inventory. Investors sold shares of Peloton after the company reported another âunderwhelmingâ quarter of … [+] losses and warned of further… More
Topline Shares of videoconferencing service Zoom, one of 2020âs pandemic-era stock market darlings, have continued to struggle this year, plunging 15% on Tuesday after several Wall Street analysts downgraded the stock amid concerns that the company faces slowing revenue growth. Zoomâs success has been âovershadowedâ by a decline in profitability and cash flow, analysts warn.… More
Ramp Cofounders Karim Atiyeh and Eric Glyman founded the corporate credit card startup just three years ago and launched it just as the pandemic started to spread across America.Ramp and Romina Hendlin Three-year-old fintech Ramp is the latest startup aiming to cash in on the buy now, pay later boomâadding a similar service for business-to-business… More
Topline The Federal Reserve reaffirmed that it is unlikely to take its foot off the pedal as it continues to raise interest rates until inflation eases in a meaningful way, with officials indicating that it will âtake some timeâ before a reversal in monetary policy, according to the minutes from the central bankâs latest policy… More
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